In a bid to become more environmentally friendly, Homeloans Ltd has announced it will plant a tree for every newly settled loan.
The green initiative is part of the non-bank lender’s new agreement with Carbon Conscious, an Australian company that produces carbon credits through carbon farming.
The lender’s national marketing manager Will Keall told Mortgage Business that it was important for the company to support green initiatives.
“Many people believe that environmental issues are just for resources and energy companies to worry about. However what surprises most people is the damage caused to the environment from producing, running and disposing of computer equipment. When you combine this with power, paper usage and transport, it all adds up,” Mr Keall said.
“Big brands have a decision to make as to whether they act now and forever be seen as being proactive in combating climate change, or wait until the emissions trading scheme is introduced and be seen as reactive like everybody else.”
According to Mr Keall, the initiative will come at no cost to Homeloans customers.
“Nothing has been factored into our pricing to cover this, it is merely something that we as an organisation feel strongly about as a way for us to exercise our corporate social responsibility,” he said.
The trees will be Mallee Eucalypt, a native species adapted to the growing conditions of the Australian Wheatbelt region where they are planted. Over its growing life, the Mallee Eucalypt will store carbon from the atmosphere.
Carbon Conscious Marketing Manager, Ryan Noble, said he was delighted that a financial services provider was demonstrating its desire contribute to a greener planet.
“Service providers are often overlooked as emitters of greenhouse gases, but when you consider power, fuel and paper consumption, as well as IT usage, their carbon footprints are often surprisingly high”, Mr Noble said.
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